The Impact of Entrepreneurial Operating Systems on Advisory Firms with Matt Cosgriff

Matt Cosgriff is the Director of Wealth Management at BerganKDV, a trusted firm that offers business planning and consulting, tax, auditing and accounting, technology, and wealth management services throughout the Midwest. Matt joined the BerganKDV team in 2014. As a wealth management leader, Matt is passionate about cultivating a team-centric environment where everyone can be successful in the service of others. Matt holds a Bachelor of Arts in Economics & Finance from St. Olaf College and a Certified Financial Planner designation from Minnesota State University, Mankato.

 

Matt joins me today to discuss entrepreneurial operating systems and their application to a wealth management firm. He explains how an EOS helps BerganKDV maintain cohesion, build company culture, and achieve organizational initiatives and goals. He describes strategies for managing the challenges of implementing EOS frameworks in a company. He also outlines the framework that BerganKDV uses to overcome EOS’s strategy gap and offers advice to advisors who want to roll out EOS in their organization.

 

“An entrepreneurial operating system is a language and framework that effectively brings clarity around how we want to accomplish whatever it is as an organization we want to achieve.” - Matt Cosgriff

 

This week on The Model FA Podcast:

 

• Matt’s background and career path to becoming Director of Wealth Management at BerganKDV
• BerganKDV’s history, revenue, AUM, and sister company
• How BerganKDV’s EOS is structured and implemented
• EOS’s impact on accomplishing organizational goals and maintaining company culture
• Getting employee buy-in and other challenges in implementing EOS
• Playing to win and creating a framework to overcome EOS’s strategy gap

 

Resources Mentioned:

 

• Book: Traction: Get a Grip on Your Business by Gino Wickman
• Book: Playing to Win: How Strategy Really Works by A.G. Lafley
• Book: The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company by Robert Iger
• Harvard Business Review’s Playing to Win Toolkit

 

Our Favorite Quotes:

 

• “With a system like EOS, you can be more efficient, even with a lower number of people required to help manage the business.” - David DeCelle
• “Simplicity doesn’t take away effectiveness.” - David DeCelle
• “EOS allowed us to have a broader vision and maintain cohesion and alignment as an organization.” - Matt Cosgriff

 

Connect with Matt Cosgriff:

 

• BerganKDV
• BerganKDV on LinkedIn
• BerganKDV on Facebook
• BerganKDV on Twitter
• BerganKDV on YouTube
• Matt Cosgriff on LinkedIn

 

About the Model FA Podcast

 

The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes  to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams. 

 

Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered. 

 

Our Team:

President of Model FA, David DeCelle

 

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